Tampa-based tech startup TSOLife, which provides an artificial intelligence-based platform for senior living communities, has acquired a program provider that will promote brain health for the senior citizens it serves.
TSOLife announced it has acquired Fit Minds, a leading brain fitness and cognitive training program provider. The acquisition will create new features in TSOLife’s primary platform, TSOLife Minerva.
TSOLife Minerva collects and transcribes interviews with residents of memory care and senior living facilities, and converts the information into data that staff can use to understand trends and outcomes.
“With Fit Minds, which has a research-backed program that helps slow the progression of dementia and Alzheimer’s Disease, we can take their content that’s focused around academic-minded questions and personalize them for every resident,” TSOLife CEO David Sawyer told the St. Pete Catalyst. “We feel a responsibility to do what we can to slow down these diseases with non-pharmaceutical solutions.”
Sawyer said venture capital firm Florida Funders introduced him to the company, which is also based in Tampa.
All of the Fit Minds employees have been offered employment at TSOLife. Fit Minds CEO Janet Knupp is stepping down from the company; Sawyer said TSOLife has appointed Amy Avila, TSOLife’s director of special projects, as the new leader of Fit Minds.
Sawyer didn’t disclose the financial details of the acquisition but said both companies will continue to operate remotely. TSOLife has over 50 employees who work remotely.
“People who have been using Fit Minds will continue to use the program and we will support all of its offerings; we want to add value. The next step for us will be to enhance our sales and marketing team and make tech investments, more acquisitions to continuously upgrade our software package,” Sawyer said.
“The Covid pandemic had a massive impact on technology; people are realizing how out of date their software is for today’s climate,” he said, noting how TSOLife wants to get ahead of the curve.
The acquisition comes months after TSOLife completed a $9 million Series A funding round.
TSOLife is a member of the Tampa Bay Wave and is in hundreds of communities nationwide, reaching nearly 1,000 clients.
TSOLife currently works with Benchmark Senior Living, Brookdale, Aegis Living and Sodalis Senior Living.
TSOLife’s early-stage investors include Florida Funders, DeepWork Capital, Waterfall Ventures Investments, Beresford Ventures LLC, Third Act Ventures and Bridge Angel Investors.
The company was also the first startup the Tampa-based venture capital firm Seedfunders invested in.